Colombian credit market, an analysis from financial reforms

Abstract

The Washington Consensus reforms struck a decisive role in economic structure of Latin American countries, especially on the perception of free markets and let the game of supply and demand determine interest rates and exchange rates. The article first sets out the theoretical elements of the credit market with an emphasis on models with asymmetric information, on appeal sets out the major financial reforms implemented in the region and its impact on the credit market, and finally extrapolate the consequences of the region by the Colombian case to describe possible causes of stagnation called credit.